Texas mogul Stanford remains in jail pending hearing

Texan cricket mogul and billionaire financier Allen Stanford Thursday must remain in jail until at least Monday while the US government challenges his release on bail, a judge ruled Friday.

Prosecutors have argued that there is a "strong likelihood" that Stanford will flee the country rather than face 21 charges of multi-billion-dollar fraud, money-laundering and obstruction.

Stanford, who pleaded not guilty on Thursday, insists he is determined to clear his name in court and "wants to stand and fight."

Judge David Hittner gave prosecutors until Monday to file a motion to revoke Stanford's release on a 500,000-dollar bond, court records showed.

Stanford, 59, faces up to 375 years in jail if convicted of all charges related to an alleged decade-long investment scam run out of the offices of the Stanford International Bank on the Caribbean island of Antigua.